State Street opens Beijing office

Pension reform continues to spur investment managers to outsource back and middle office functions.

State Street says it is capturing the majority of assets Asian institutions are investing internationally primarily via its securities services, trading and research businesses. In particular it is targeting global fund management companies who are managing most of these institutional monies to outsource their back and middle offices, says Jay Hooley, Boston-based executive vice president. He expects volumes only to increase, driven by pension reform across the region,

New products and markets means managers need new platforms, he says. Pension reform will drive this.

Now State Street is opening a rep office in Beijing, to position it to take advantage of the available assets emerging from China....

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